Price T Rowe Associates Inc. MD Purchases 176,337 Shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)

Price T Rowe Associates Inc. MD lifted its position in shares of Zimmer Biomet Holdings, Inc. (NYSE:ZBH - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,760,444 shares of the medical equipment provider's stock after purchasing an additional 176,337 shares during the period. Price T Rowe Associates Inc. MD owned about 7.41% of Zimmer Biomet worth $1,559,147,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Franklin Resources Inc. boosted its position in Zimmer Biomet by 398.7% in the 4th quarter. Franklin Resources Inc. now owns 3,497,764 shares of the medical equipment provider's stock valued at $369,469,000 after buying an additional 2,796,372 shares during the last quarter. Norges Bank acquired a new stake in Zimmer Biomet during the 4th quarter valued at approximately $216,223,000. Dodge & Cox increased its holdings in Zimmer Biomet by 12.0% during the 4th quarter. Dodge & Cox now owns 19,118,436 shares of the medical equipment provider's stock worth $2,019,480,000 after purchasing an additional 2,044,645 shares during the last quarter. Sound Shore Management Inc. CT acquired a new position in shares of Zimmer Biomet in the 4th quarter valued at approximately $81,447,000. Finally, FMR LLC boosted its stake in shares of Zimmer Biomet by 91.6% during the 4th quarter. FMR LLC now owns 1,438,011 shares of the medical equipment provider's stock valued at $151,897,000 after buying an additional 687,675 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Lori Winkler sold 1,443 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.40, for a total value of $150,649.20. Following the completion of the transaction, the senior vice president now owns 8,768 shares of the company's stock, valued at $915,379.20. This represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.95% of the stock is currently owned by company insiders.

Zimmer Biomet Stock Performance

Shares of Zimmer Biomet stock traded down $0.17 during midday trading on Monday, hitting $101.35. The company had a trading volume of 339,855 shares, compared to its average volume of 1,664,452. Zimmer Biomet Holdings, Inc. has a 1-year low of $93.10 and a 1-year high of $123.96. The business's 50 day simple moving average is $105.81 and its two-hundred day simple moving average is $106.61. The stock has a market cap of $20.05 billion, a PE ratio of 22.76, a P/E/G ratio of 1.95 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.91 and a quick ratio of 0.99.

Zimmer Biomet (NYSE:ZBH - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The medical equipment provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. Zimmer Biomet had a net margin of 11.77% and a return on equity of 12.99%. During the same period last year, the business posted $2.20 EPS. As a group, equities analysts predict that Zimmer Biomet Holdings, Inc. will post 8.22 EPS for the current fiscal year.

Zimmer Biomet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Monday, March 31st. Zimmer Biomet's payout ratio is presently 21.57%.

Wall Street Analysts Forecast Growth

ZBH has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their price objective on shares of Zimmer Biomet from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Barclays lowered their price objective on shares of Zimmer Biomet from $118.00 to $112.00 and set an "underweight" rating on the stock in a research note on Monday, February 10th. JMP Securities reaffirmed a "market outperform" rating and set a $140.00 price target on shares of Zimmer Biomet in a research note on Friday, February 7th. Truist Financial reissued a "hold" rating and issued a $113.00 price objective (down previously from $118.00) on shares of Zimmer Biomet in a research note on Monday, February 10th. Finally, Stifel Nicolaus upped their price objective on Zimmer Biomet from $130.00 to $138.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Zimmer Biomet presently has a consensus rating of "Hold" and a consensus target price of $124.15.

Zimmer Biomet Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.